Grocery Outlet (NASDAQ:GO) Price Target Lowered to $16.00 at Telsey Advisory Group

Grocery Outlet (NASDAQ:GO) had its target price cut by Telsey Advisory Group from $18.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms have also issued reports on GO. Bank of America lowered their target price on Grocery Outlet from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday. Roth Mkm lowered their price objective on shares of Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Craig Hallum cut their target price on shares of Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $16.00 in a research report on Wednesday, November 6th. Finally, UBS Group dropped their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Grocery Outlet has a consensus rating of “Hold” and an average target price of $15.58.

Grocery Outlet Stock Down 30.2 %

Shares of GO stock opened at $10.99 on Wednesday. Grocery Outlet has a 1 year low of $10.26 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.33 and a current ratio of 1.46. The business’s fifty day moving average is $16.14 and its 200-day moving average is $17.14. The stock has a market cap of $1.07 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 9.08 and a beta of 0.32.

Institutional Investors Weigh In On Grocery Outlet

Hedge funds have recently bought and sold shares of the business. Creative Planning purchased a new stake in Grocery Outlet in the 3rd quarter worth approximately $198,000. Blue Trust Inc. increased its stake in shares of Grocery Outlet by 76.6% in the third quarter. Blue Trust Inc. now owns 1,665 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Grocery Outlet during the third quarter worth $801,000. Nisa Investment Advisors LLC acquired a new stake in Grocery Outlet during the third quarter valued at $181,000. Finally, Pallas Capital Advisors LLC purchased a new position in Grocery Outlet in the third quarter valued at about $474,000. 99.87% of the stock is owned by hedge funds and other institutional investors.

About Grocery Outlet

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.